On january 1 2014 simmons company sold to flay corporation, Ask an Expert

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On January 1, 2014, Simmons Company sold to Flay Corporation $400,000 of its 10% bonds for $354,118 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Simmons report as interest expense for the six months ended December 31, 2014?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941190

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